Deposit Interest Retention Tax (DIRT)

Who is exempt from DIRT?

You can receive interest without paying DIRT (DIRT-free account) in certain conditions. To do this, you must complete a declaration form stating that you, your spouse or civil partner are:

• 65 years of age or over when making the declaration. Your total income for the year, including the interest, must be below the annual exemption limit.
• or
• permanently incapacitated due to a physical or mental disability.

If you are a trustee of a special trust for permanently incapacitated individuals, you can apply for an exemption from DIRT. You must be the holder of this account. The trust must meet the following conditions:

• it is set up only for the benefit of one or more permanently incapacitated persons
• the funds of the trust are from subscriptions given by the general public
• and
• the specified incapacitated person(s) must own the funds in the account.

DIRT is not charged on interest from the accounts of:

• individuals who meet all of the following conditions:
  • are not resident in Ireland
  • have completed a non-resident declaration
  • do not pay tax in Ireland
  • do not have a joint account with an Irish resident.
• companies that pay Corporation Tax
• Revenue-approved pension schemes
• Pan-European Personal Pension Product Providers (on completion of a declaration)
• charities.

Forms to complete

If you are over 65 years of age, complete a Form DE1 and send it to your financial institution.

If you are permanently incapacitated, complete a Form DE2 and send it to your Revenue Office. We will tell your financial institution that you are exempt from paying DIRT.

If you are a Pan-European Personal Pension Product Provider, complete a Pan European Personal Pension Product Declaration.

You will need a separate form for each account you hold. These forms are available from your financial institution.

Next: Changes to the status of DIRT-free accounts